Podcast: Market celebrates as treasuries supposedly buy the “transitory” narrative
Saxo Market Call
Summary: Today we sift through the market's reaction to the very hot US May CPI readings, pour over the contributors to the highest core CPI reading in decades and whether the market is making a mistake in pre-declaring this inflation spike as transitory. At the same time, we remind listeners that we're concerned treasury yields are weighed down by overwhelming liquidity more than reactive to data. Elsewhere, a look at grains, gold, China's attempt to temper metal price rises, Intel's bidding for a chip rival, the week ahead in macro and more. On today's pod were Peter Garnry on equities, Ole Hansen on commodities and John J. Hardy hosting and on FX.
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Quarterly Outlook Q2 2022
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